Franklin Templeton Investments Corp. announces Canadian fund merger

TORONTO, June 15, 2012 /CNW/ - Franklin Templeton Investments Corp. announced today that unitholders have voted in favour of merging Wellington West Franklin Templeton Balanced Retirement Income Fund (the "Terminating Fund") into Quotential Balanced Growth Portfolio (the "Continuing Fund").  Subject to regulatory approval, the merger will take effect on or about the close of business on June 22, 2012.

Unitholders of the Terminating Fund will receive Series A securities of the Continuing Fund on a dollar-for-dollar basis.

Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the fund.  All costs associated with the termination of the fund will be borne by Franklin Templeton.

Franklin Templeton Investments

Franklin Templeton Investments Corp. is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Bissett, Mutual Series, Fiduciary Trust and Darby investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and more than US$683-billion (C$706-billion) in assets under management as of May 31, 2012.

Franklin Templeton Investments Corp. has more than 600 employees across Canada providing services to more than one million unitholder accounts and more than 200 pension funds, foundations and other institutional investors. Additional information on Franklin Templeton Investments Corp. can be found at www.franklintempleton.ca.

Media contacts:

Keith Damsell, Franklin Templeton Investments Corp., 416.957.6099

Sarah Kingdon, Franklin Templeton Investments Corp., 416.957.6191